Florentino Perez said Real Madrid won't sign anyone during the January transfer window.

Madrid were earlier this month banned from all transfers during the summer 2016 and winter 2017 windows after FIFA found they had on many occasions broken the laws regarding the international transfers of players aged under-16.

"The FIFA punishment is painful," Perez said. "It is very serious to stain the image of Madrid with this. We are convinced that all this is a mistake, it is absurd to think that Real Madrid would be punished for a case of protecting minors, when children have always been a priority for us.

"We are not going to sign anyone in the winter transfer window, but that has nothing to do with the punishment, it is because we have the best players in the world and the best coach."